Real estate appeared on the ballot in Nov. 8 election

With a majority of votes counted, the Bay Area’s political future has come into focus with some consequential results regarding real estate. From new city leaders to ballot initiatives, voters weighed in on a variety of property issues.

Mayoral elections

Councilmember and political newcomer Matt Mahan won an underdog victory against veteran public official Cindy Chavez in the race to become San Jose’s next mayor. After nearly 250,000 votes were cast, Mahan walked away with 51 percent of the vote, according to the Santa Clara Registrar of Voters.

Mahan was positioned as the more moderate candidate and gained support from real estate groups.

“San Jose is the most moderate large city in the Bay Area,” Gina Zari, from the California Association of Realtors, told San José Spotlight. The association supported Mahan. “I don’t think Cindy’s politics and her endorsement machine aligned with the voters. Matt’s did. His message of just common sense and moderation and transparency and accountability and accessibility resonated more.”

Mahan is a proponent of building high-density housing units in the downtown area near transit. He is also an opponent of SB9, which he believes runs counterintuitive for the type of housing development San Jose needs.

“If we let developers build what they want in single-family neighborhoods away from transit and without funding new services, taxpayers will be forced to subsidize that growth,” Mahan said on his campaign site. “But other types of housing — particularly higher-density housing downtown and near transit — will pay for itself. That’s why we need to put housing where it makes sense — starting with where it won’t mean higher taxes, reduced services or both.”

After nearly two weeks of counting votes, progressive candidate Sheng Thao edged out the more moderate councilmember Loren Taylor by 682 votes in the nail-biting race to become Oakland’s next mayor, according to Alameda County Registrar of Voters.

One of the primary issues Thao campaigned on was the need for more affordable housing. She supports creating an infrastructure finance district, which would use future growth in property tax revenue to pay for big projects like affordable housing developments.

Thao also voiced support for creating mixed-use housing which places people from different socioeconomic backgrounds into the same communities.

“When you’re putting people of different socioeconomic backgrounds together and living in the same environment, those on the lower end of the socioeconomic ladder can connect with others, increasing their social networks and net worth,” she said in an interview with Oaklandside.

Santa Clara’s mayoral race caught the attention of some high-profile donors as incumbent Mayor Lisa Gillmor narrowly defeated Councilmember Anthony Becker with 51 percent of the vote compared to 49 percent, according to Santa Clara County Registrar of voters.

The San Francisco 49ers spent nearly $4.6 million in an unsuccessful attempt to unseat Gilmor. Related Companies also jumped into the race and contributed $250,000 to Gillmor’s campaign. In the end Becker outspent Gillmor 8-1.

Ballot Measures

A number of Bay Area cities had a vacancy tax on the ballot. While San Francisco and Berkeley approved the new tax, Santa Cruz voters rejected the measure. While the margins were wide in Berkeley and Santa Cruz, the vote was tighter in San Francisco and the measure passed narrowly with 54 percent of the vote.

The measure is an effort to penalize landlords of buildings with more than two apartments who refuse to rent out units. The tax would be applied to buildings with three or more units, if the units in question had been vacant for more than 182 days. Single-family homes and duplexes are exempt.

Votes are still being counted for two propositions that directly oppose each other in San Francisco, and both are trailing as the vote total looms. Prop D streamlines multifamily housing where all units are affordable for households earning up to 140 percent of the area median income, and where the average household income is no more than 120 percent of AMI.. This measure has garnered the support of Mayor London Breed and SF Yimby, and is currently trailing with 49 percent of the vote.

Prop. E would have streamlined housing for households with incomes of up to 120 percent of AMI and where the average household income is no more than 80 percent AMI. The measure is trailing with 46 percent of the vote and is highly unlikely to pass.

Oakland voters passed Measure U by a large margin with 75 percent voting yes. The initiative needed two-thirds of the vote to pass. The measure provides $850 million in funds to provide affordable housing and address homelessness.

Proponents say the bond measure will make neighborhoods and public spaces safer and create housing for homeless residents without raising taxes. It had the support of the entire City Council, including outgoing Mayor Libby Schaaf.

Oakland voters also approved Measure V with 63 percent of the vote. It will extend eviction protection for housing units built after 1996. In 2002, Oakland made into law that a landlord must have “just cause” to evict a tenant, and laid out 11 reasons when an eviction would be appropriate. This only applied to housing built before 1996, and now tenants of newer units will have the same protections.

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San Francisco

Apartment vacancy tax passes in San Francisco and Berkeley